Pakistan is rapidly moving toward a digital economy, with 92% of all retail payment transactions completed through digital channels during the January–March 2026 quarter, according to the State Bank of Pakistan (SBP).
The SBP’s latest Quarterly Payment Systems Review revealed that 3.7 billion retail transactions, worth Rs. 168.8 trillion, were processed through formal banking and payment systems during the quarter. Of these, 3.4 billion transactions were made using digital platforms, showing a strong shift away from cash-based payments.
The report highlighted that retail payment transactions increased by 9% compared to the previous quarter, reflecting the growing popularity of digital banking across the country.
Mobile banking apps remained the most widely used payment method. Transactions through branchless banking services, commercial banks, and electronic money institutions reached 2.9 billion, with a total value of Rs. 42 trillion. These included money transfers, utility bill payments, online shopping, and merchant payments.
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Pakistan’s Raast Instant Payment System also continued its impressive growth. During the quarter, Raast processed 742.1 million transactions worth Rs. 23.3 trillion. Person-to-person transfers increased to 664 million, while person-to-merchant payments also recorded significant growth, highlighting the rising use of digital payments for everyday purchases.
Despite the rapid growth of digital banking, traditional banking services remain active. Pakistan currently has 20,232 bank branches and more than 819,000 banking agents nationwide. During the same period, bank branches processed 128 million over-the-counter transactions, while banking agents handled 155 million transactions.
The latest figures demonstrate Pakistan’s steady progress toward a more connected and digitally driven financial system. With increasing smartphone usage, improved banking technology, and platforms like Raast, digital payments are becoming the preferred choice for millions of Pakistanis, supporting greater financial inclusion and a more transparent economy.
